Treasury Laws Amendment (Mergers and Acquisitions Reform) Act 2024 (137 of 2024)

Schedule 1   Acquisitions

Part 2   Amendments commencing 1 July 2025

Division 2   Other amendments

Financial Sector (Transfer and Restructure) Act 1999

86   After subsection 43(9)

Insert:

(9AA) For the purposes of the acquisitions provisions (within the meaning of the Competition and Consumer Act 2010):

(a) a transfer of business (whether voluntary or compulsory), a transfer of shares, or a transfer pursuant to an internal transfer certificate, that takes effect under this Act is taken to be:

(i) to the extent that the transfer is of shares in the capital of a body corporate - an acquisition of the shares by the receiving body; and

(ii) to the extent that the transfer is of other assets - an acquisition of those assets by the receiving body; and

(b) if the transfer is a transfer under Part 4 of this Act - the acquisition is not required to be notified under Division 2 of Part IVA of the Competition and Consumer Act 2010.

Note: For the purposes of the acquisitions provisions, the receiving body is the principal party to the acquisition.